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IRS Digital Intake Initiative Underway

IRS Digital Intake Initiative Underway

by Winkelman-Bruce & Truax LLP | Mar 21, 2023 | Tax Tips and News

New technology could improve tax return processing time at the IRS Paper returns have historically been slower to process due to the Internal Revenue Service having to manually transcribe information, leading taxpayers who want to more quickly receive their refund to...
SCOTUS Rules FBAR Penalty Determined on Per-Report Basis

SCOTUS Rules FBAR Penalty Determined on Per-Report Basis

by Winkelman-Bruce & Truax LLP | Mar 14, 2023 | Tax Tips and News

Taxpayers with foreign bank accounts who forgot to file an annual Report of Foreign Bank and Financial Accounts (FBAR) received some good news at the end of February. In Bittner v. United States, the Supreme Court ruled that the penalty for nonwillful failure to file...
Tax Relief Extended for Disaster Victims in Alabama, California, and Georgia

Tax Relief Extended for Disaster Victims in Alabama, California, and Georgia

by Winkelman-Bruce & Truax LLP | Mar 10, 2023 | Tax Tips and News

The Internal Revenue Service recently extended tax relief for disaster victims in Alabama, California, and Georgia. Individuals and businesses in these federally declared disaster areas now have until October 16, 2023, to meet several filing and payment...
SCOTUS Holds FBAR Penalty Determined on Per-Report Basis

SCOTUS Holds FBAR Penalty Determined on Per-Report Basis

by Winkelman-Bruce & Truax LLP | Mar 9, 2023 | Tax Tips and News

Taxpayers with foreign bank accounts who forgot to file an annual Report of Foreign Bank and Financial Accounts (FBAR) received some good news at the end of February. In Bittner v. United States, the Supreme Court held that the penalty for nonwillful failure to file...
IRS Announces Direct Deposit for Amended Returns

IRS Announces Direct Deposit for Amended Returns

by Winkelman-Bruce & Truax LLP | Feb 21, 2023 | Tax Tips and News

Filing an amended return used to mean completing a paper form, regardless of how taxpayers submitted the original return to the Internal Revenue Service. During the pandemic, paper-filed returns presented processing challenges that contributed to a historic backlog at...
2022 Special State Payments Not Taxable

2022 Special State Payments Not Taxable

by Winkelman-Bruce & Truax LLP | Feb 18, 2023 | Tax Tips and News

In 2022, millions of Americans received special state-issued payments designed to provide economic relief to residents struggling with financial burdens exacerbated by issues ranging from the pandemic to natural disasters. One week after urging recipients to postpone...
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Recent Posts

  • IRS Digital Intake Initiative Underway
  • SCOTUS Rules FBAR Penalty Determined on Per-Report Basis
  • Tax Relief Extended for Disaster Victims in Alabama, California, and Georgia
  • SCOTUS Holds FBAR Penalty Determined on Per-Report Basis
  • IRS Announces Direct Deposit for Amended Returns

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